Thu, Dec 01, 2005 - Page 10 News List

Economic summit coming soon: Hsieh

GROWTH With the economy showing signs of improvement, the premier said the Economic Development Advisory Conference will be held before the Lunar New Year

By Jimmy Chuang  /  STAFF REPORTER , WITH CNA

The second Economic Development Advisory Conference, aimed at addressing economic issues and revitalizing the investment climate, will be held before the Lunar New Year, Premier Frank Hsieh (謝長廷) said yesterday.

"Judging by the statistics, our economy has been growing for the past three months. I think it is time for us to get this [the conference] done as soon as possible," the premier said during the weekly Cabinet meeting yesterday.

Taiwan's economic growth rate for the third quarter hit 4.38 percent, and is expected to reach 5.28 percent in the fourth quarter, according to government statistics.

In response to President Chen Shui-bian's (陳水扁) call for the conference to be held as soon as possible after the local elections, Hsieh said he decided to make it happen before the Lunar New Year, which falls on Jan. 29 next year.

The Economic Planning and Development Council (CEPD) will begin organizing the meeting this month, he said.

In addition to boosting the economy, the government is obliged to work "to re-establish civic and economic stability after the tumultuous elections" to reaffirm the people's confidence in the Democratic Progressive Party, Hsieh said.

CEPD officials yesterday began consulting with business and industrial leaders to iron out details ahead of the economic conference, Hsieh added.

Chen announced early last month that a second national economic conference will be held in response to an appeal by the country's business and industrial leaders.

Six major business and industrial groups urged the government on Nov. 3 to convene a national economic summit to help revitalize the domestic economy and rekindle the public's confidence in the government.

In a joint announcement, six major business and industrial groups said there is a pressing need for a national economic conference, as Taiwan's export dominance in the world market has been declining, the local bourse has been sluggish, and domestic investment and consumption have been slumping.

Noting that the fundamentals of Taiwan's economy are strong and healthy, with major foreign ratings agencies portraying the nation's economy in a very positive light, the business groups said in their announcement that the economic sluggishness has been caused by political factors and that the situation can be corrected quickly if strong and effective measures are adopted.

The first national economic conference was held on Jan. 6, 2001, after the country's economy posted its first negative growth in three decades.

Some 300 delegates from the government, business and industry, academia and political parties took part in the conference.

During that conference -- aimed at improving Taiwan's investment environment and removing hurdles to domestic economic development -- the participants reached consensus on 322 issues, while government agencies came up with 670 programs to carry out new economic revitalization plans.

This story has been viewed 2785 times.
TOP top